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1 1 (May 30, 2023)

handle is hein.crs/goveluj0001 and id is 1 raw text is: a Congressional Research Service informing the legislative debate since 1914 Updated May 30, 2023 Financial Disclosure: Identifying and Remediating Conflicts of Interest in the Executive Branch When taking an official action (e.g., making decisions or recommendations), American public servants are expected to put the government's interests ahead of their own. The Ethics in Government Act of 1978 (5 U.S.C. §§13101- 13111), as amended, is based upon this principle and requires certain employees to file annual financial disclosure statements. Federal agencies use the disclosed information to identify and remediate real or perceived conflicts of interest, as necessary. Every Federal employee serves not one but many masters.... Manifestly, the principle proscribing conflicts of interests is aimed not at these normal multiple allegiances of employee-citizens or at direct controversies between them and their employer- Government, but only at such activities as will impair the integrity of the Federal service and deprive the Government of the full performance for which it has bargained. -House Committee on the Judiciary, Subcommittee No. 5, March I, 1958, p. I. Identifying Conflkcts of interest Federal law (18 U.S.C. §208) prohibits government employees from participating personally and substantially in any covered activity in which the employee, spouse, minor child, general partner, or previous organization has a financial interest. If a covered official is negotiating future employment, they are prohibited from participating in certain activities with that organization. Pursuant to the Ethics in Government Act and regulations issued by the Office of Government Ethics (OGE), compliance with laws prohibiting financial conflicts of interest is primarily achieved with the assistance of each federal agency's Designated Agency Ethics Official (DAEO). The DAEO, a position established in the Ethics in Government Act and accompanying regulations, is tasked with, among other things, training agency staff on ethics matters; ensuring compliance with financial disclosure requirements; and reviewing, identifying, and assisting in the remediation of conflicts of interest. Current law (5 U.S.C. §§13101-13111) and regulations (5 C.F.R. §2634.201) require covered employees to file annual financial disclosure reports on or before May 15 each year. Newly hired covered employees must file within 30 days of appointment, and nominees must complete their forms within five days of the White House's transmission of their nomination to the Senate. Candidates for federal office (e.g., President, Vice President, House of Representatives, and Senate) are required to file financial disclosure forms within a specified period. Generally, this is within 30 days of declaring their candidacy or May 15, whichever is later. Once financial disclosure forms are filed with the employee's agency (the House or Senate for legislative branch employees, Members of Congress, or candidates for the House or Senate; or the Administrative Office of the Courts for the judicial branch), the DAEO reviews the filings for compliance, completeness, and to identify any real or perceived conflicts of interest. Individuals who fail to file or file false reports are subject to statutory penalties (5 U.S.C. §13106). There are two types of financial disclosure reports-public (OGE Form 278) and confidential (OGE Form 450). The requirement to file a public or confidential report largely depends on the individual's governmental role. Both public and confidential reports require the disclosure of similar information. Each filer reports information about their assets, income, employment agreements, transactions, liabilities, and gifts for themselves, their spouse, and dependent children. Public Financial Disclosure Public financial disclosure filings are available for public inspection. Public filers (5 C.F.R. §2634.202) include the President; the Vice President; executive branch employees, including Special Government Employees (SGE) who are classified above GS-15 of the General Schedule or at a rate equal to or greater than 120% of the minimum rate of basic pay for GS-15; uniformed servicemembers paid at or in excess of 0-7; administrative law judges; executive branch employees who are in a position excepted from the competitive service by reason of being of a confidential or policy-making character; the Postmaster General, the Deputy Postmaster General, each Governor of the United States Postal Service Board of Governors; the Director of OGE and each agency's designated agency ethics officer; and civilian employees employed in the Executive Office of the President and holding a commission of appointment from the President. 0

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